Economedia, the leading business media group and second-largest media group in Bulgaria, is acquiring 60% of Sofia Echo Media Ltd.

The Economedia-Sofia Echo Media Ltd deal has been submitted for approval to the Commission for Protection of Competition.

Sofia Echo Media Ltd’s stable includes The Sofia Echo, real estate magazine PropertyWise and websites.

Since 2005, Economedia has been part of Verlagsgruppe Handelsblatt, Germany’s biggest media company in the field of financial and business information.

Verlagsgruppe Handelsblatt owns 50% of Economedia, while The Agency for Investment Information owns the other half.